Another Courage Marine ship scrapped

Hong Kong: Courage Marine, the listed vehicle of the Hsu family, has sold a 1984-built bulk carrier for $4.34m for scrap.

The 66,741 dwt panamax, Courage, will head to the scrap yard by the end of the month. Courage Marine paid $4.4m for the ship nine years ago.

“The disposal is for demolition and this provides a good opportunity for the group to generate cash which is intended to be used for general working capital and for funding any future acquisition of further vessels when suitable opportunities arise,” Courage Marine said.